“Beauty & Wellness sector to provide opportunities to close to 3 Crore people by 2030”: Jayant Chaudhary

New Delhi, June 25, 2024.

To empower and encourage the youth aspiring to excel in the Beauty & Wellness sector, Shri Jayant Chaudhary, Union Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE), today met and congratulated all the 270 candidateswho have been certified under PMKVY 4.0 and various CSR projects under Skill India. This was at the 3rd convocation ceremony organized by the Beauty and Wellness Sector Skill Council (B&WSSC) which has till now trained more than 13 lakh candidates under the mission.

The ceremony witnessed the certification of people from the LGBTQIA+ community and acid attack victims, highlighting the importance of establishing an inclusive, diverse and holistic skill ecosystem. The Hon’ble Minister exclusively interacted with the candidates and encouraged them while laudingthem for their resilience and commitment to pursue successful careers in beauty and wellness industry. He also launched the B&WSSC’s Coffee Table Book- “Lakshaya-Transformative Tales of Empowerment”.

The eventtook place at the Indian Habitat Centre, New Delhi, and was attended by prominent dignitaries includingShri Atul Kumal Tiwari, Secretary, MSDE, Shri Ved Mani Tiwari officiating CEO, NSDC and MD, NSDC International and Dr. Blossom Kochhar, Chairperson, B&WSSCand Ms. Monica Bahl, CEO, B&WSSC.

Aligned with the Hon’ble Prime Minister, Shri Narendra Modi’s vision of making India the Skill Capital of the World, B&WSSC offers various NSQF-aligned skill courses under the Skill India Mission, providing livelihood opportunities and enabling entrepreneurship. The SSC also collaborates with the state governments to extend skilling initiatives to the underprivileged from diverse and marginalized backgrounds including widows, prison inmates, school dropouts, acid attack survivors, and transgenders.

Speaking at the occasion, Shri Jayant Chaudhary, Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE),said, “The global beauty and wellness sector is a promising sunrise industry, and the India has notably outpaced the global growth in this sector. And it is encouraging to know that over the past nine years, B&WSSC has achieved remarkable milestones, creating 106 job roles with a strong focus on women empowerment and entrepreneurship. Today, our graduates have exemplified immense resilience and determination, transforming themselves into leaders within this vibrant industry. Among them are inspiring acid attack survivors who have become champions of their own stories.”

“The sector’s exponential growth is a testament to India’s demographic dividend, set to provide opportunities for close to 3 crore people by 2030 and contribute to a 5 lakh crore industry with significant prospects across the Asia-Pacific region.As we move towards the vision of a Viksit Bharat by 2047, the energy and vigor of our skilled workforce will be the driving force behind this sector’s success.” He added.

Under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), flagship scheme of Skill India, B&WSSC has trained 4.89 lakh individuals, with 1.34 lakh certified under Recognition of Prior.

Learning (RPL) and 2.54 lakh certified under Short Term Training (STT) and Special Projects (SPL), achieving a 49% placement rate. The top job roles under RPL include Yoga Instructor, Yoga Trainer, and Assistant Beauty Therapist, while under STT and SPL, the top roles are Assistant Beauty Therapist, Pedicurist & Manicurist, and Beauty Therapist.

The Beauty & Wellness sector, globally acknowledged as a sunrise industry, is witnessing unprecedented growth. According to the 2023 skill gap study conducted by KPMG, the Indian Beauty & Wellness sector exhibited a robust Compound Annual Growth Rate (CAGR) of 18.2% between 2018 and 2022, surpassing the global CAGR of 17.6% during the same period. The sector is now poised to grow to approximately INR 277,000 crores by 2025 and is anticipated to reach INR 500,000 crores by 2030.

One of the most inspiring aspects of this industry is its inclusivity and empowerment, with women constituting about 66% of the workforce—a figure expected to rise to 70% by 2030. The sector is becoming more gender-neutral, providing equal opportunities for all, supported by government and private sector initiatives promoting skill development across the country.